Accounting Services for Law Firms
đź“Ť Serving Clients in New York, Michigan, and Nationwide
At Revonary, we help attorneys, partners, and law firm owners make smarter financial decisions. From tax planning and bookkeeping to litigation support and payroll, we deliver accounting services built around how law firms actually operate.
Specialized Accounting & Tax Services for Law Firms
We work with attorneys and law firm leaders to simplify accounting, reduce tax liabilities, and support long-term financial growth. Whether you're managing a multi-partner firm, running a solo practice, or navigating the financial demands of contingency-based litigation, we understand the unique challenges that come with this work—and how to address them.
Tax Preparation & Planning
Bookkeeping & Practice Accounting
Forensic Accounting & Litigation Support
Advisory Services
Additional Services
Tax Preparation & Planning for Law Firms
Entity Structuring & Partner Tax Optimization. Whether your firm operates as an LLP, PLLC, or S corporation, we evaluate ownership structures, profit allocations, and guaranteed payments to reduce self-employment taxes and improve after-tax income for partners at every level.
Maximizing Deductions for Legal Professionals. We make sure you capture every allowable deduction—bar dues, CLE costs, malpractice insurance, legal research tools, marketing, and more. For high-income partners and solo practitioners alike, these adjustments add up.
Multi-State & Local Tax Compliance. Attorneys with clients, cases, or offices across state lines face real compliance exposure. We handle apportionment, state-specific filing requirements, and available credits to keep you compliant without overpaying.
Quarterly & Annual Tax Planning. We estimate quarterly payments, forecast year-end liabilities, and identify opportunities to time income and deductions strategically—especially important for contingency-based practices where large fee receipts can land unpredictably.
Law Firm Bookkeeping Services
Trust Account & IOLTA Compliance. Client funds require precise handling. We maintain audit-ready trust account records, support three-way reconciliation, and help your firm stay fully compliant with state bar requirements—so this never becomes a liability.
Monthly Close & Financial Reporting. We deliver accurate, timely financial statements every month, with reporting tailored to how law firms track performance: collections by practice area, realization rates, partner draws, and overhead ratios.
Accounts Payable & Expense Management. We handle vendor payments, recurring expense tracking, and statement reconciliations using cloud-based tools that keep your books clean, paperless, and ready for review at any time.
Chart of Accounts Built for Legal Practices. We structure your chart of accounts around how your firm actually earns revenue—whether that's hourly billing, flat fees, retainers, or contingency arrangements—so your financials reflect the business clearly.
Litigation Support Services
Expert Witness & Financial Analysis. We provide financial analysis and support for civil litigation matters, including damages calculations, lost profits analysis, and financial modeling that holds up to scrutiny in court or in settlement negotiations.
Forensic Accounting. When financial records need to be examined for discrepancies, hidden assets, or improper transactions, we bring the methodical analysis that attorneys and their clients need to build or defend a case.
Business Valuation for Legal Proceedings. We provide defensible business valuations for divorce proceedings, partnership disputes, estate litigation, and commercial matters—analysis grounded in recognized methodologies and presented clearly for legal audiences.
Payroll Services for Law Firms
Payroll Processing & Compliance. We handle payroll for staff, associates, and non-equity partners across W-2 and 1099 classifications, keeping your firm compliant with federal and state requirements without adding administrative burden to your team.
Partner Draw & Compensation Structuring. We help equity and non-equity partners structure distributions, guaranteed payments, and bonuses in a way that balances fairness, incentive, and tax efficiency—and holds up as your firm grows.
Benefits & Retirement Plan Coordination. We work alongside your benefits providers to coordinate retirement plan contributions, including 401(k)s, defined benefit plans, and cash balance plans that can meaningfully reduce taxable income for high-earning partners.
Advisory Services for Law Firms
Profitability & Financial Performance Analysis. We analyze what's driving profitability across your practice—realization rates, billing efficiency, overhead allocation, and practice area margins—so you can make decisions grounded in actual financial data.
Fractional CFO for Law Firms. For firms that need ongoing financial leadership without the cost of a full-time CFO, we serve as your embedded financial partner. Strategy, planning, and reporting—available when you need it.
Partner Compensation & Equity Structuring. We advise multi-partner firms on compensation frameworks, equity buy-ins, and profit distributions that are structured to minimize conflict and maximize long-term alignment between partners.
Growth & Expansion Planning. Whether you're opening a second office, adding a practice area, or modeling the financial impact of a lateral hire, we build the analysis that helps you make those decisions with confidence.
Who We Work With
At Revonary, we work with a wide range of medical professionals, from solo physicians managing their own practice to HNW individuals looking for sophisticated tax solutions.
Solo Practitioners
Small & Mid-Size Law Firms
Multi-Partner Firms
Plaintiff's Attorneys
Family Law & Divorce Attorneys
Corporate & Transactional Attorneys
Insights for Lawyers
At Revonary, we don't just manage your books—we help you make smarter financial decisions. Our blog covers tax strategies, compensation planning, trust accounting compliance, and more, written specifically for the financial realities attorneys face.
Cash vs. Accrual Accounting for Law Firms
Law Firm Bookkeeping: What Your CPA Should Be Handling
Get Started Today
Reach out to our team today to take the first step on your journey toward financial clarity.
Frequently Asked Questions About Our Accounting Services for Law Firms
At Revonary, we know that every law firm is different. Whether you're a solo practitioner managing your own books, a growing firm navigating partner compensation, or an established practice planning for succession, we're here to provide clarity. Below, you'll find answers to some of the most common questions attorneys ask before working with us.
We work with solo practitioners, small and mid-size firms, and large multi-partner practices across a wide range of specialties—from litigation and family law to corporate transactional work. If you run a law firm, we can help.
While our offices are in New York and Michigan, we work with attorneys and law firms across the country. Most of our work is handled remotely and fits easily into how legal professionals already operate.
We go beyond basic tax prep. We understand how law firms are structured financially—partner draws, IOLTA compliance, contingency fee timing, multi-state exposure—and we build our service around that complexity rather than treating your firm like any other small business.
We maintain audit-ready trust account records and support the reconciliation process your firm needs to stay compliant with state bar requirements. This is an area where getting it wrong carries serious consequences, and we treat it accordingly.
Yes. We provide financial analysis, damages calculations, business valuations, and forensic accounting services for attorneys who need credible financial work product for disputes, negotiations, or court proceedings.
It starts with a call. We'll learn about your firm, walk through your current financial setup, and outline how we can help. No pressure; just a clear picture of what's possible.
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